FAQ

What is CrowdAfrik?

CrowdAfrik is a fintech company that focuses on funding projects in African countries to boost economic growth and reduce poverty.

How does CrowdAfrik work?

Through our app, users select areas of interest for small-scale business projects and apply for funding. We employ a lottery system for selection.

What is the funding process?

After selecting the ongoing campaigns in the sectors we fund, users pay a small application processing fee and then an application with 5 referees as guarantors.

How are funding winners selected?

Winners are chosen randomly through a daily, weekly, or monthly lucky draw, depending on the chosen area of interest.

Are multiple applications allowed?

Yes, registered applicants can apply for funding on different ongoing campaigns, but each application must have accurate data.

Can applicants make changes to their applications?

Users can make changes to their application on the account management page, subject to reauthorization by the system administrator.

How are the funds distributed?

Funding covers the costs of starting a business, with payments made directly to supplier firms in most cases.

What happens in farming-related funding?

In farming projects, funds can be provided directly to winners for specific expenses like labor costs.

How is misuse of funds prevented?

We have a strict policy to prevent misuse of allocated funds, ensuring transparency and responsible usage.

How are winners supported after funding?

CrowdAfrik closely monitors and guides winners to ensure their success, with funds collected back gradually when the business generates income

Where do supporting funds come from?

Supporting funds are raised through various sources, including lucky draw participants, investors, diaspora contributions, and supplementary avenues.

How may I initiate the process of deleting my CrowdAfrik account?

To commence the account deletion procedure, kindly navigate to the "Settings" section, followed by "Account Settings," and select the option labelled "Delete My Account." Please follow the instructions outlined. Upon successful confirmation of the account deletion request, a confirmation message will be sent to you. Please note that our team will undertake the permanent deletion of your account, along with all associated information, within a period of 30 days.